France Telecom
Type: | Public Limited |
Industry: | Telecommunications |
Founded: | 1988 |
Headquarters: | 15th arrondissement, Paris |
Country: | France |
Employees: | 161,390 [1] |
Revenue: | €45.50 billion AS OF 2010 [2] |
Website: | www.francetelecom.com |
Facebook: | Orange |
Twitter: | ![]() |
Key People | |
Stéphane Richard, Chairman & CEO |
France Telecomis the primary telecommunications operator in France with 221 million customers as of 2011. Orange, the company's corporate brand is the main mobile communications and internet provider in Europe. It serves more than 30 million consumers. Its' headquarters is located in Paris, France. Stéphane Richard is the current Chairman & CEO of the company.[3]
Background
France Telecom was established as Direction Générale des Télécommunications from 1889 until 1988 as part of the French Ministry of Posts and Telecommunications. Since the invention of telegraphy and telephony, the French government monopolized the telecommunications services in the country. In 1987, The European Commission initiated the liberalization of the telecommunications market in European countries and published the “Green Paper on the Development of the Common Market for Telecommunications Services and Equipment.” On July 2, 1990, the French law no. 90-568 was enacted to form France Telecom as “société anonyme” (French Corporation), a public service provider governed by corporate law in accordance with the French Postal and Telecommunication Code. In 1991, French Telecom became an independent operator under public law, which means it is still controlled by the government. In 1995, the Direction Général des Postes et Télécommunications (DGPT) issued public consultation document to open competition in the telecommunications industry. In 1996, the French Parliament enacted the Experimental Licensing Bill and eventually on December 31, 1996, French Telecom was incorporated and became privatized in 1997. The following year, the telecommunications industry in France became open to competition. [4] [5] [6] [7]
The Orange Brand
In 2000, France Telecom purchased Orange, a mobile phone operator based in United Kingdom owned by Vodafone AirTouch for 40.3 billion dollars. The transaction allowed the company to combine its cellular business with Orange to create the second largest mobile phone company in Europe. A major move for France Telecom to position the company as the European leader and global player in the telecommunications industry. [8] In 2001, France Telecom formed the Orange Telecom Plc. and sold 15% of its shares during the Initial Public Public Offering.[9] In 2003, the company bought back the 13 percent minority shares it does not own worth $ 7.8 billion dollars. This decision was prompted by a bill passed by the French government granting France Telecom the option to buy out the minority shareholders of Orange and Wanadoo, the company's internet business division.[10]
References
- ↑ Consolidated Financial Statements
- ↑ Consolidated Financial Statements
- ↑ France Telecom Orange Group
- ↑ Regulatory Reform in France, Regulatory Reform in the Telecommunications Sector
- ↑ France Telecom Bylaws
- ↑ France Telecom Group History
- ↑ The Future of Telecommunications: An Interview with Didier Lombard, Chairman of the Board, France Telecom
- ↑ France Telecom to form Europe's No. 2 mobile firm after buying UK player
- ↑ Orange Tuesday happy birthday to Orange Telecom which celebrates its fifteenth irthday with an unusual twist - cupcakes
- ↑ France Telecom in Orange buyout